Job Details
Location: Ottawa (Downtown), ON, CA
**Diversity and Inclusion**
We strive to make our policies, programs and workplace more inclusive, respectful and barrier-free. We encourage applications from women, Indigenous peoples, veterans, persons with disabilities, members of visible minorities and persons of all races, ethnic origins, religions, abilities, sexual orientations, and gender identities and expressions.
We make career growth and professional development a priority. We are committed to developing inclusive, barrier-free recruitment and selection processes, and a work environment that supports our diverse workforce.
Let our team know if you need accommodation or support during the recruitment process due to a disability or other reason. We can provide support in multiple ways, from using this site and submitting your application, right through to the interview process. If you are the successful candidate, you can also discuss accommodation needs when you receive your offer.
Contact ...@bankofcanada.ca to discuss how.
**Principal Analyst of Enforcement, Retail Payment Supervision**
**About Retail Payments Supervision**
The payments landscape in Canada and globally is changing rapidly. The rapid pace of technological change in Canada and around the world is introducing new and better ways for consumers and businesses to make payments.
The federal government is proposing to implement a new Retail Payments Supervisory (RPS) Framework. Under the proposed framework, the Bank of Canada would supervise payment service providers (PSPs) compliance with operational risk management and fund safeguarding requirements and maintain a public registry of regulated PSPs.
The Bank will assess whether PSPs are adequately managing their risks and help identify areas where their risk-management practices should be improved. To fulfill its mandate, the Bank will have a combination of compliance tools that would include allowing the Bank to enforce oversight requirements when necessary.
Find out more about the next steps in our .
**What you will do**
You will contribute to the design and implementation of the supervisory framework. During this multi-year project, you will be part of the team that will be responsible for the development, implementation, and communication of the enforcement approach to address non compliance with regulatory requirements.
You will contribute to policies related to retail payment vehicles and to other aspects of the framework. You will also design and develop enforcement tools and strategies, implementation plans including processes and procedures to operationalize the Framework, as well as contribute to an IT solution to support supervision.
**What you need to succeed**
As an innovative and self-motivated problem solver, you have experience in developing enforcement policies related to the financial, payments or technology industries. You can conduct research and analysis, provide advice and make decisions on a variety of large, complex issues with multiple dependencies. You are flexible and able to adapt to an evolving work environment and changing priorities. You develop and maintain harmonious relationships with a wide range of business contacts and build supportive working relationships with peers, your manager, as well as internal and external stakeholders.
You have strong influencing skills, able to set priorities and can manage multiple deliverables to advance the work of the project. You will demonstrate your leadership skills by mentoring and developing more junior staff in the team and have a proven ability to communicate clearly and adapt your communication style for a wide range of audiences, including senior management and external stakeholders. You are equally comfortable working collaboratively within a team, or independently. Your work is conducted with a strong attention to detail and often under tight deadlines.
Furthermore, you understand the broader financial system and supervision in the financial section, including current and emerging trends/issues as they relate to enforcement.
**Nice to have**
* knowledge of payment clearing and settlement systems (FMIs), retail payments, and financial technology companies (paytechs or fintechs)
* experience with, or knowledge of risk management practices at financial institutions.
* experience with, or knowledge of investigations and enforcement regimes, including those which include enforcement actions with administrative monetary penalites
* experience participating in international or domestic inter-agency committees or working groups
* understanding of the financial sector, financial system, agents in the financial system, relevant financial sector authorities in Canada, and the retail payments ecosystem
**Your education and experience**
The position requires relevant work experience in economic and policy analysisideally in the supervision of financial entitieswith a masters degree in economics or finance or a degree from a recognized law school, with a minimum of eight years experience. An equivalent combination of education and experience may be considered.
**What you need to know**
* Language requirement: English and French essential (bilingual) with a minimum starting level of intermediate (level 3) in second official language. Training may be provided to help reach the required level of functional (level 4) in second official language.
* Priority will be given to Canadian citizens and permanent residents
* Security level required: Secret
* Relocation assistance may be provided, if required
* Please save a copy of the job poster. Once the closing date has passed, it will no longer be available.
* In response to the COVID-19 pandemic and further to public health guidelines, preventative measures are being taken to ensure health and safety during the recruitment process. All interviews are conducted virtually.
* Remote Work: Candidates not within commuting distance will be eligible to remote work from their current location within Canada for the duration of this term.
**Vaccination:** In response to the COVID-19 pandemic that was declared by the World Health Organization, the mandates issued by the federal government, and the direction provided by public health authorities, the Bank of Canada requires all new employees to be fully vaccinated prior to their start date. If you are the selected candidate, you will be asked to first attest your vaccination status at the reference stage and will then be required to submit proof of vaccination status or request accommodation for a legitimate medical, religious reason or other human rights-based grounds at the offer stage as part of the offer process.
*We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.*
**What you can expect from us**
This is a great opportunity to join a leading organization and be part of a high-performing team. We offer a competitive compensation and benefits package designed to meet your needs at every stage of your life and career. For more information on key benefits please visit .
* Salaries are based on qualifications and experience and typically range from $108,100 to $135,000 (job grade 18)
* Depending on performance, you may be eligible for performance pay for successfully meeting (5 to 7% of your base salary) or for exceeding expectations (10% of your base salary). Exceptional performers who far exceed expectations may be eligible for higher performance pay.
* Flexible and comprehensive benefits so you can choose the level of health and dental coverage that meets your needs
* Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
* Option to join the indexed, defined-benefit pension plan after 24 consecutive months